Cashflow, appreciation, some combination?

I actually used a combination of those to find the HOA.What I did was go to Google Maps - I couldn't get the street view of the house because the google car can't drive through the gated community - so I used the little yellow man to identify where the street view would be for the front gates of the community.

Are these types of deals analyzed by cap rate, appraisal of each individual unit or a combination? 

“It looks like the combination of limited available inventory and a decline in the share of distressed sales in the market continue to put upward pressure on prices” says Daniel Silver, an economist at JP Morgan in New York.According to the National Association of Realtors, property values rose 11.5% over the last few years, resulting in an average sale price of $197,000.

I'll take the combination of low taxes, appreciation, population growth and climate all day.

My ultimate goal is to combine both real estate and construction in a national corporation.

Here are some numbers for you all:Purchase price: 78,001Principal Balance: 72800.18 @ 4.25%- 30 yr Conventional loan through BBT; The home was a foreclosure, but purchased the home from HUD through an online auction, and paid 5% down for Conventional loan with PMI.Monthly payment: 628.16Home owners insurance: 1034.68 (Allstate- Estimated cost to rebuild is 166,851)Current Property Assessment from County: 97,100 for building and 26,900 for land: Total- 124,000Zestimate (if this means anything): 123,382Square footage: 2020 with 1526 containing HVAC (Electric) and a converted garage into a carpeted room with window AC, 2 old wall heaters, washer/dryer/water heater, outside door around 494 sq ft.

Obviously, on the 30-yr example I would be able to combine the $12,000 I saved from cash flow with the small amount of equity I built up; but that wouldn't be as good as the equity built up from the 15-yr.

Not to say these rating sites/systems are corrupt or worthless, but I would combine/compare it with word of mouth.As far as word of mouth advice I can offer you,  the only bit I've heard about schools is that the Klein ISD (which is up in Spring, north side vs Missouri down on the SW) is excellent.Wish I could be of more help.

But the 9-12% returns your seeing are pro-forma usually on buildings that have some combination of needing a ton of work, high vacancies, non-paying tenants, etc.